Foundation Overview

WHAT IS THE USF FOUNDATION?

The USF Foundation is a private, not-for-profit corporation which functions as the primary fund raising entity for the University of South Florida. Generally, expenditure from USF Foundation funds must comply with the following guidelines:

Expenditure Guidelines –

Must comply with all Federal, State, University and Foundation regulations

Must support USF’s mission

Must adhere to the donors intent

TYPES OF USF FOUNDATION FUNDS

There are five different types of USF Foundation funds as follows:

Operating Funds –

Support a department so that it can conduct its normal daily operations or to fulfill a purpose stated by the donor

$1,000 minimum deposit for a departmental named fund

$5,000 minimum deposit for a donor named fund

Fund numbers begin with 25-0xxx and 25-1xxx

Endowment Funds –

Serve a purpose specified by the donor

$25,000 minimum deposit

Two fund numbers: Principal (25-6xxx) and Earnings (25-3xxx)

You can only spend out of the Earnings fund

Initial and subsequent donations are housed in the Principal fund and generate interest earnings

Quasi Funds –

Hold large sums of donations until it is determined if an endowment will be established or if the donations will be used for spending

$25,000 minimum deposit

Quasi designation is limited to one year

Two fund numbers: Principal (25-8xxx) and Operating (25-2xxx)

Endowed Chair Funds –

Has a Chairholder within the department that designates how the money will be spent

Established to support the scholarly work of the Chairholder - Salary support for the Chairholder and those individuals directly associated with the Chairholder’s scholarly work- Expenses directly related to the scholarly work of the Chairholder

$2 million minimum deposit (Exceptions can be made at USF’s discretion)